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that faces our country. >> ifill: today, the house opted for short term, temporarily lifting the debt ceiling until may 19, then resetting the cap to cover any borrowing over the current limit-- $16.4 trillion. and for now, republicans will not force immediate spending cuts. the party's new strategy would achieve that goal by forcing congress to pass a budget. house budget committee chair-- and last year's vice presidential nominee-- paul ryan. >> here's the point, we have a law, it's called the budget act, it requires that congress passes a budget by april 15. all we're saying is, "congress, follow the law, do your work, budget. and the reason for this extension is so we can have the debate we need to have." >> ifill: as added incentive, the house bill says, if there is no budget, then lawmakers won't get paid. after it passed today by a bipartisan vote of 285 to 144, speaker boehner said he's optimistic that will happen. >> if both chambers have a budget. democrat budget from the senate, republican from the house now you've got competing visions, forow we address this problem. out of those
raising the debt ceiling at indicating that there will be steep cuts said. what is the chance of that? >> well, i hope the is right, but i fear he is wrong. i think that the current mood of the country is more sympathetic to the president and the democrats' perspective, which is that we don't really have a serious spending problem. we have a minor spending problem we can do with a little bit. we can raise taxes on high-income households a little bit more and we don't have to make fundamental cuts in entitlements. i think that's wrong. i think we have to make substantial cuts in entitlements. we should make substantial cuts in many other components of expenditure as well, defense and nondefense in that trying to address our long term fiscal situation with higher taxes is is going to destroy the economy. gerri: democrats are beating the drum on this already. anyone you listen to from that side of the house is really talking about higher taxes. republicans and conservatives in general like to talk about the power of economic growth. could robust growth that a lot of people think they're
and the debt ceiling we believe it is all a dog and pony show. there is really not going to get cut, only get large. >>> he never spoke at the inaugural address about balancing the budgets and living within our means and making difficult choices. just the opposite. he seems to want to lock in this permanent welfare dependency mentality in the country which pretty much guarantees america becomess. >> you have this philosophical id long-timal mentality. what we like to think of unfortunately is that politics in washington is a little bit now like professional wrestling okay. there is this demonstration going on but it is kind of scripted and it doesn't really get to the full truth of what is going on. >> sean: there are two other issues we haven't dealt with yet. one is the media. they are not doing specials on this. number two, american people you know what, i don't know if they are either aware or they don't care. you want to weigh in here but the bottom line is they voted in obama. i got chris matthews all mad, he didn't get a tingle up his spine when i said i voted for obama i ancient the -
increase in this debt ceiling we have to have a dollar in cuts to match that. the president said earlier this month, i'm not doing that anymore. we are not going to keep negotiating over the debt ceiling. this is our obligation over. the republicans have conceded the president had won the argument and are now -- this week they ebb extended the debt ceiling with no accompanied spending cuts. the republicans will cede that issue to him. >> your latest article, mitt romney i'm not going away. tell me. >> certainly was a little different. he came in to toub this weekend for the alfalfa dinner. we hadn't seen a lot from mitt romney since he lost in november. he to told donors that it was purposeful. he is not going anywhere. he will be active in 2013 and 2014s and in terms of 2016. although some sources said his personal ambition for public office are over. >> good to see you both today. thank you so much. >> thank you, t.j. >>> to the weather, the midwest is facing an ice threat. winter storm is dropping snow and freezing rain expected to bring icy conditions. power outages and travel delays
. >> good morning, john. two parts of the vote today. first of all, raising the debt ceiling. allowing the country to borrow more to pay off the debt that we have already incurred. something president obama was pushing more. conservative republicans wanted to see cuts first. now the republican leadership said we won't link the two. we'll raise the debt ceiling until the middle of may. however there is a catch. they want to ensure that a budget is in place. a spending plan for the country. so the vote also says if lawmakers on either said don't pass a budget by april 15 -- tax day for everyone else -- they would lose their income. no paychecks until they have a budget. that's where we are now. that's the crux of the vote coming up today. the white house says the president will sign the bill if it's passed. republican ps have been counting their votes. despite opposition still from conservatives who want to see spending cuts happen first. they believe they have the votes for it to pass. 17 conservatives could derail that. >> we'll see if there is movement. thank you very much. >> the wom
and they are not going to raise the debt ceiling ultimately unless they get severe spending cuts and the obama administration is not going to give it to them. you're going to watch the u.s. do crazy, crazy things this year. >> he was pretty clear. he called it crazy. i talked to eric cantor earlier, the republican majority leader. he sort of said we're ready to deal and compromise, but people are very worried about what the u.s. could do. >> oh, and this latest decision to just kick the can, i hate to use the cliche, further down the road, axel neighbor is a former central banker in europe, also the head of ubs and he was absolutely in no doubt that what we are seeing in the u.s. in the political and economic process is dangerous. >> if you have the debt ceiling, the europeans will talk about how you can make that binding. in the u.s., the concern is much more whether you can lift it in time in order not to put too much break on the economy. now, the u.s. economy has bottomed out, it's coming back, and i think sooner or later the u.s. has to face the fiscal issue not just in the sense of delay
congress voted to suspend the debt ceiling for three months this week, effectively raising the country's borrowing limit while they figure out deeper cuts to reduce the deficit. that keeps me employed for at least a few more months. even before that deadline hits again, march 1st will be on us, the so-called sequester deadline. that's a stupid washington name for a stupid and dangerous washington creation, the automatic across-the-board spending cuts. then there's another date to worry about, april 15th. not just tax filing day but the date by which congress has promised to adopt a budget resolution. they even this time stake their pay on it, agreeing to reach a deal or face suspension of their paychecks until they reach a deal. that might just be enough of a carrot to make them actually present a budget that takes on our a bah looning deficit. but that battle may make the recent battle over tax hikes for the rich seem like a friendly game of badminton. big spending cuts are needed and they will hit americans where it hurts -- in their entitlements. i'm talking about health
is that this idea that there is a deficit crisis and we're going to be greece if we don't breach the debt ceiling and impose budgets that cut the government 40% in ten years, the idea behind those crisis mongers is that we have to slash the heck out of social insurance, out of programs that provide educational opportunities for poor people, out of things that push back against economic inequality. we can't afford it. we must cut them. the crisis dictates it. if there is no crisis and, as krugman and i argue, there is no crisis, if there is no crisis, they're just out there in nowhere land by themselves, by the way, without the majority of the electorate behind them. >> very briefly, jared, if you can, eric cantor says taxes are done, no taxes, so i guess another stalemate to come on that? >> i see -- it's hard to see how the budget that's going to come out of the senate, and i think patty murray is going to do a very good job on that, is going to reconcile with the kind of budgets we're looking at. >> jared bernstein who absolutely deserves the nobel peace prize, thank you, sir, thank you for joi
for dollar cut to match any increase in the debt ceiling. the script in a precedent that will not be taken hostage going forward. so obviously we democrats would prefer a longer-term extension agreement. keeping the nation's creditors in suspense on a monthly basis about whether we're going to fulfill our obligations is not ideal way to the government. but the bottom line, this proposal gives us something we can work within the senate, in the short term, removes the credit default with the long-term benefit they president that will make raising the debt ceiling easier from now on. >> well, for the last several years, congressional republicans have held the full faith and credit of the united states of america hostage to score political ndp 30 party base. consider doing what congress has always done under both parties and allow the government to pay the bills it has occurred, they decided to play a game of chicken with the global economy. up until now, republicans have been all about politics and points coring. the two families who've been watching this debate across the country, it was abo
spending cuts in exchange for raising thehe debt ceiling-- at least for now. it was partly a recognition that multiple showdowns over the debtcb and spending have hurt the g.o.p.'s standing with voters. a cbs news poll released lastal week found americans trust the president over congressional econ republicans to handle thea republic economy by 15 points.r john thune is a republican senator from south dakota. was this what the republicanrepublican party saying we're going too operate a little differently in a second president obama term?ell, i thi >> well, i think -- i do believe it's a recognition of politicalde reality. the pre we realize the president won the election and i -- so i think to some degree it was a recognition that for us to have a debateav about spending and debt we'vewe got to have the focus be on a and wha budget and what we're going to achieve a balanced budget over time. >> pelley: and that's why thee republicans have attached a caveat to their debt ceiling bill. they want senate democrats to do something they haven't done since 2009: pass a budget putting them on t
and i'm not raising the debt ceiling until you cut it. these are fights on both sides where the participants were sent here to do totally separate things. shepard: welcome to washington. the president spoke a lot we the people today. very few uses of word i. a lot of uses of collective we. we are on the national maul, as is our main man on campaigns, carl cameron. happy inauguration day. what happened with the folks? >> thanks very much. they're beginning to depart obviously, generally without incident. a great crowd, yet to have estimates. probably somewhere between 5 and 700,000. much smaller than four years ago. second innagurals tend to be less than enthusiastic. there was no shortage of aspirational rhetoric from the president and the poet that spoke. clearly the crowd loved it. there are big obama fans here. it was not meant to be a partisan event and part of the peaceful transition to power as outlined a few centuries ago. yet what the president said has republican and conservative lips wagging this morning, tongues wagging worried what it is that could be the impact
deal. we can raise the debt ceiling only if we cut government spending as well. where were they during those years? those very difficult years. i have compiled a voting records on the debt increases that president bush requested and i hope i can insert that into the record. >> without objection. new york seek recognition? >> to address the house for one minute and revise and extend my remarks. the speaker pro tempore: the gentlewoman is recognized for one minute. ms. slaughter: i am pleased to rise today to recognize the landmark anniversary of the roe v. wade decision by the supreme court. s the firewall that protects women's health and moved women's health forward. on this 40th anniversary of roe v. wade, we confirm the constitutionally protected right of every woman to safe and legal health care. women are nurturers and when life places a woman in the most difficult of circumstance the choices she needs to make should be free from government interference. over the years i have been proud to stand with many of my colleagues as we have beaten back repeated attempts to chip away at wom
could raise the debt ceiling only if we cut government spending as well. but where were they during those years? those very difficult or years? and incidentally, aye compile -- i've compiled the voting records on the debt increases that president bush requested during those years. and i hope, mr. chairman, i could insert them into the record. >> without objection. >> thank you. many senior members of this committee routinely voted to raise the debt ceiling during those years even though the money for the tax cuts and the wars was put on emergency basis for the purpose of hiding the costs. so i'm pleased that we're coming around to a more reasonable position today, and i hope that we're going to find a common path forward on many of these issues. mr. johnson, you state in your testimony that low unemployment depresses tax revenue, and this is the mayor reason for -- major reason for our current deficits and why they're so large. once the economy recovers fully and the unemployment rate is lowered, it certainly will take some of the pressure off of these discussions. acknowledging the
the debt ceiling for three months in exchange for passing a budget. >> it's time for us to come to a plan that will, in fact, balance the budget over the next ten years. >> reporter: today, white house press secretary jay carney indicated the president would not oppose a short-term solution. now, the battles begin in earnest tomorrow when the house is expected to vote on the debt ceiling bill and when secretary of state hillary clinton will face some tough questions from congressional committees when she appears before them to talk about the terrorist attack in benghazi. brian? >> kristen welker on the white house north lawn tonight, thanks. >>> late word tonight that top u.s. commander in afghanistan, general john allen, has been cleared of engaging in any inappropriate behavior regarding his e-mail exchanges with the woman from tampa, jill kelley. this case came to light originally as part of the petraeus affair. and an investigation was launched. >>> the u.s. state department confirms today three americans were indeed killed during that four-day hostage standoff in algeria. seven ameri
, martha, where they're cot delling together what could be a three-month extension of the debt ceiling to try to hammer out more spending cuts and coupled with chuck schumer, the man in charge of today's big inaugural event, more tax hikes. a lot of bruising to come as far as they settle this but they are a long way from settling it. martha: neil, that raises a bigger question. you look at the second term of fdr who dealt with obviously severe economic distress in this country. what happened was they relapsed. there is lot of concern if we do continue to raise taxes and small business owners who the president said are one of his priorities in the second term, but if their sense is their taxes are going higher, they will continue to pull in and get smaller and leaner and not hire i would imagine. so the big question is, where is the whole economy going to head if taxes are increased in other ways in this country? >> well you know the president spoke to quickly come back at the notion, if wall street is worried about this and companies are worried about this, investors are worried about
is that business seemed to respond to all the uncertainties surrounding the debt ceiling. by cutting back on capital investment, and not firing people. there was a lot of anecdotal evidence over that, that they were waiting this out. that maybe they thought this time around it was more bluff and bluster than reality that we'd hit the debt ceiling. and that seems to have paid off. people don't -- employers don't like to fire employees. not only because of, you know, being gentle human beings but because it's costly for them to do that. they tried to hold on. what we seemed to be seeing here right now is i held my exuberance last week because i thought it was a one-off seasonal adjustment thing and you do have to be careful in the month of january, as people come off the rolls because of the seasonal hiring. and there's still some reason for skepticism. but staying down at this level for a second week, joe, we've always said 350 was the bottom of the range, and we're putting in a new bottom down there this 330 that you've got to think about. probably payrolls up near 200,000 or above and ma
to the debt ceiling must be matched by spending cuts. it was the swiftest and most drastic position switch in boehner's speakership. it was not lost on kevin mccarthy who said, "what they'll say after that vote, this is the day of the comeback." maybe if comeback also conotes fractious and uncertain strategy. with no democratic support, the way could go the way of boehner's plan b if just seven republicans break rank. and they still have to contend with the rightward flank. >> you wouldn't believe the number of conservative commentators, hey, you know what, we're going to have to start backing off obama, he's not really a bad guy, not a socialist marxist, he's just a chicago thug. we're becoming isolated on an island here, it's very small. it's a drift out in the middle of nowhere. >> joining us now to discuss this is the sage of capitol hill, nbc's luke russert. luke, it never stops being -- >> how are you? >> i'm great. i'm great. >> thanks for quoting jake sherman. he's a good american. way to quote him on the intro. >> you're welcome. luke, we know that nothing is secure when it comes
't resolve some of the debt ceiling and some of the spending cuts and get into some of the fiscal order that you were talking about, you're going to have that weight on it. and even though you proposed a lot of hope with japan in terms of some of the political leadership, they are still at negative growth with 7%. >> exactly. >> with so now you're up to 50% or so of world gdp that is a drag on the economy. how do you look at, you know, the broadest sense of contagion as it relates to emerging market growth and developing country growth with 50% of world gdp possibly in that situationsome. >> well, i think the trade figures tell it all, whether you agree with the figure on growth or not, i think the trade figures show what's happening. and there's no doubt picking one of the countries you've mentioned, china. i mean, china for the last 20 years has been double-digit growth. last year they had one of the worst years in recent memory. we'll see the final figures coming out. it didn't get below 7% which i view as a hard landing, but when you move from double digit down to 7 something percen
we were going to fight raising the debt ceiling until we got dollar for dollar spending cuts now we're going to hold a vote that is going to be held wednesday to raise the debt ceiling temporarily. why would they do something like this, which might seem at first blush to be backing down. there were a couple of reasons, scott. first of all they looked at polling when they were out there at that retreat it looks like the polling that you were just talking about. it showed that americans by a pretty significant margin trust the president over house republicans when it comes to things like the deficit which is one of their signature issues. and spending and the economy. what republican leaders were trying to convey to some of their more junior members, perhaps who like the idea of really holding the white house's feet to the fire on issues like this, if we want to be seen as a governing party not just an opposition party that is constantly threatening to take the government in to a shutdown or default we are going to have to show that we are reasonable. and the fact is that they are goi
on the dealt ceiling. they have the votes to pass a short-term debt ceiling increase today. they will look for deep spending cuts later. it would suspend the debt limit to allow the u.s. to keep borrowing money to pay bills for three months. complicated but politically interesting. in exchange, calling on the senate to pass a budget by spring. >>> so lady fwgaga playing at t inaugural campaign bash for staffers and a special guest with her. tony bennett to sing a duet for "the lady is a tramp" sang they like so much. bennett also performed for several other presidents. >>> tough news for lady gaga. justin bieber passed her on twitter. justin bieber the most followed person on theet earth. approximate 33,300,000. >> i'm sure my daughters follow him. i will have to ask them. maybe i should follow him. >> 33,300,001 with soledad. >>> did beyonce lip sync. here is how it went on inauguration day. ♪ and the rocket's red glare the bombs bursting in air gave proof through the night that our flag was still there ♪ >> so much fun to watch in person. we were really like right up in front. the ma
that any increase in the debt ceiling be matched by spending cuts. is this seen as a political retreat or are they hoping to gain something in return? >> reporter: well, both sides are kind of gloating here and claiming victory. we had a press conference from senate democrats who said this was a victory, the house is now setting a precedent. they're stepping away from the idea that raising the debt ceiling must be accompanied by spending cuts. they're decoupling that which is what the white house and democrats argue what should be done. people on the house side says this forces the hand of the senate. each side is trying to spin this as a victory. certainly the thinking is that at least one of the things that the president said he wanted to do, which is set aside the rest of these fiscal debates and break them apart in the idea of raising the debt ceiling. depends who you ask, martin. >> after the debt ceiling, dairy ask what's sneks is there another potential crisis waiting in the wings? >> reporter: it seems like there's always a crisis. >> it does. >> reporter: we still have the seq
and two, the automatic cuts, they call the sequester that are part of the 2011 debt ceiling deal. they want to address those, because they think that they can use those more efficaciously without harming the economy than with the debt ceiling kicking it down the road a few months and say that is a nuclear option kind of thing in the end and getting the president to yield and accept some cuts now that have hanging over his head, t president doesn't want that and. >> megyn: forget this is the job you were hired to do, the only way that you might get senate democrats to vote on a budget they haven't done in almost four years is to hit them in the pocket book. >> well, and a lot of senators are very rich. a lot of millionaires in that club and mark warner probably won't cry any tears losing the weekly check. for some of them that will hurt a lot and this is the important part, it would be humiliating, embarrassing to get your pay docked for not doing the job. the senate will not want to pass legislation like that, since it's attached to the debt ceiling and the president made a big d
president obama before they raise the debt ceiling. the g.o.p. is calling to balance the federal budget in just ten years. that's almost twice as fast as previous efforts by republicans. if that is the case, medicare and other safety net programs wills take a huge hit. yesterday's extension of the debt ceiling now goes to the senate which will likely pass it as well. we'll be right back. (vo) current's award winning original series is back with an all new episode straight from the headlines. (vo) in the minefield of the nation's gun control debate, this could be the most polarizing issue. >> anybody can claim stand your ground and they could get away with murder. >> announcer: broadcasting across the nation on your radio and current tv, this is the "bill press show." >> bill: yes indeed. equality moves to the front lines as the pentagon today lifts the ban on women in combat. big move. a great move. hello, everybody. happy, happy thursday and welcome, welcome to the "full court press." coming to you live all the way across this great land of ours. god bless america. we're booming out to
they won the round because the debt ceiling will go up in may. without offsetting spending cuts. republicans counter getting the senate democrats to agree to a budget by april means for the first time in four years congress may be able to show some degree of real fiscal discipline. bret? >> bret: thank you. senate majority leader harry reid hopes to get a deal done soon with republicans over new filibuster rules. they want to require senators to be present when they filibuster. republicans are resisting that. reid hinted he may use the so-called nuclear option to change the rules, with a simple majority of 51 votes instead of the usual two-third. the dow continued its momentum, up for a fourth day if a row today. industrial average gained 67. to reach the highest closing value since halloween of 2007. the s&p 500 finished ahead two. the nasdaq increased 10-1/2. we will hear from the chairman of the house foreign affairs committee a bit later. up next, why you are giving a powerful weapon to enemy of a friend. [ male announcer ] ok, here's the way the system works. let's say you
right, phil, thanks so so mh anyway, appreciate the time. debt ceiling fight delayed for now, but if it goes to plan, the agreement does nothing to stop automatic across the board cuts taking effect march 1st. what do we do now? mike lee joining me from capitol hill. senator lee, thanks for coming on. you know, i think a lot of americans are surprised to hear right now that we still have sequestering in place with all the rangeling going on in the last couple days. what's the plan? >> you know, at this point, there's no plan on the table because the attention has all been focused on the debt limit issue, and two are related, of course, because, ultimately, it's not the debt limit itself the problem. it is the spending that goes on propelling us forward with having the raise the debt limit every six to 18 months because we can't get spending under control. passing this in 2011, raised the debt limit then, put in place automatic cuts to kick in if the super committee dbt have a proposal. they are about to kick in. >> what do you think is going to happen? what's the talk? >> you
of this. you are raising the debt ceiling for a few months with no spending cuts. is that a problem? >> the automatic cuts are coming right down the pike. right after that, there will be a continued resolution. another opportunity to rein in that spending. we are all inpatient to get the fiscal house in order, all impatient to make sure that medicare and medicaid are secure, but in the step-by-step process, i think we get there. rich: there are still major differences between democrats and republicans. is there a move on either side? >> i will point out that obamacare is $500 billion in taxes and they are taking it now. the bill was just passed after the new year is 600 billion in new taxes. there are a lot of new taxes. which, by the way, i opposed those. i know the importance of the safety net. we have to come together to save medicare. until there is a blueprint, i do not take we can get there. the good thing about this bill, we can begin moving forward on saving medicare. rich: dennis, you want to jump in here? dennis: which do you think is more important, the no pay or the debt
. and i should addo that, a constitutional crisis in a way because this whole debt ceiling has been a weapon that the house of representatives have used to gain power. it's not just the republicans versus the democrats. it's the house versus the president. i don't know how it the play out. >> meanwhile, the marketses are on fire. the s&p 500 hitting a new five-year high along with the dow jones industrial average. what is driving the stocks and do you think it's sustainable for the year? >> the part of it that i understand is that some of the risk has been pulled out of the market. so most recently that the u.s. has got three months before the next thing happening. some of the risks. and maybe just the election was determined and people aren't necessarily happy, some are, some aren't. but it's solved. take some uncertainty away. markets don't like uncertainty. so even though it wasn't very likely the european would fall apart, even though it wasn't very likely the u.s. would fall on its debt, pulling it out of the equation lifted markets a lot. >> meanwhile, new appointment, in the
debate is whether to raise that debt ceiling. 69 percent of you said it should only be raised after major cuts are made where 23 percent say it would be reckless not to. it is coming up. >>> powerful wind gusts tearing through the midwest knocking down this frtree and causing ito fall into the house in ohio. luckily the people inside the home were in the basement so they were not injured. >>> with the stong winds comes a a -- strong winds comes a bitter cold snap. for more let's go to maria molina. >> we are not looking at cold temperatures across the areas of the midwest but also in the oifrt ea northeast. we didn't get this cold in places like the northeast. take a look at portions of the midwest. 6 below zero the current temperature in minneapolis. that is not the windchill. it feels even colder and some places will be looking at windchill temperatures more than 20 degrees below zero. we are talking about dangerous conditions across places in the upper midwest. make sure your home is winterized. we are only going to be seeing a hyatt 4 below zero 8 degrees below zero in far go. 45 dc a
between it legs. i haven't heard anything from s&p or moodies who say we want the debt ceiling to go higher. everybody watching this show who has cut back 0, government has to learn how to do the same thing. it's cowardly in washington to continue to hide behind the notion that we're going to collapse overnight as a nation if we don't keep spending ourselves to death. >> i agree. congressmen have basically sent a message that today is not the day we're going to stop spending our children's and grandchildren's money, and charles is exactly right. the reason why our credit got downgraded is because of our out of control spending and out of control debt. the fiscal cliff deal even we just witnessed, it's such -- added four trillion dollars to our deficit over the next ten years. so, congress is not serious about reigning in spending and that's exactly when the we need to too. >> but they're not doing it. >> they're not doing it. and it neils hunky dorie. that's just it. >> the markets aren't. >> the markets are hunky doory for a few reasons. it's pause of the global economy. markets wen
that they think hitting the debt ceiling is no big deal. we can raise the debt ceiling only if we cut government spending as well. where were they during those years? those very difficult years. i have compiled a voting records on the debt increases that president bush requested and i hope i can insert that into the record. >> without objection. >> many members of this committee routinely voted to raise the debt ceiling even though the money for the tax cuts and the wars were put on an emergency basis for the purpose of hiding the cost. i'm pleased that we're coming around to a more reasonable position today. i hope that we're going find a common path forward on many of these issues. mr. johnson, you state in your testimony that low level employment affects the debt. once the economy recovers fully it will take some of the pressure off of these disus cushions. acknowledging we have long-term challenges we have to address. i've been making this point in my caucus, not to overreact. if we can find the common path forward we find that you can have a conversation that would be worthwhile past the t
strategy. they say they believe they have the votes to pass a short term debt ceiling increase today and seek deep intending cuts later. their plan was to spend the $16.4 trillion debt limit to allow the u.s. to keep borrowing money to pay its bills for another three months, then increase the legal limit to that new debt level. confusing but important politically. in exchange they're calling on the senate to pass a budget by spring. >> rimportant chess move in the debt talks. exit polls from tuesday's election in israel show netanyahu will almost certainly hold on to his job. the surprising surge of a new centrist party has weakened netanyahu's power, but could ease strained relations with the u.s. and signal a good sign for more flexibility for peace efforts. >> so much closer than anyone thought. >>> a candid look at mental illness in a very famous family. mayor yell he called running from crazy. more from her and her documentary coming up. [ loud party sounds ] hi, i'm ensure clear... clear, huh? i'm not juice or fancy water. i've got nine grams of protein. that's three times more
. there are no spending cuts as part of this. there are a number of republicans who want to increase the debt ceiling only at the congress passes a corresponding number of spending cuts. we have to watch this very closely and make sure it does reach that threshold. it is not necessarily 218. if everyone votes, it will be. if it does pass into the senate, harry reid says they will take it up and they will likely pass it as well. you have to get through this first. we will update you when and if we get there. melissa: another short-term solution. thank you so much. what did the administration know and when? hillary clinton in the hot seat today over the benghazi attack. lou dobbs will weigh in on that. lori: a mixed picture. we are back after this. ♪ >> at 21 minutes past the hour, i am patty and brown with your fox news minute. then yahoo! called early elections three months ago expecting and easy victory. the leader must now build a coalition after a strong showing by a new party. he is expected to keep his job. much of the u.s. experiencing the coldest temperature and two years. four deaths are blamed
for a temporary lift to the debt ceiling. the house is expected to approve legislation on wednesday that would raise the debt limit for three months without any cuts to spending. members of the congress believe they can come up with a spending plan during that window. honda of campbell also introduced legislation for a back up plan that would prevent the worse fiscal cliff. >> i think we should have a process that addresses that so that it doesn't become a barrier or a political football. >> the last time lawmakers fought over the debt ceiling two years ago the country's credit rating was downgraded. >>> on wall street, stocks closed higher despite mixed earnings. >>> president obama began the first day of his second term with a traditional postinaugural prayer service. the president and first lady were joined by vice president biden and his wife at the washington cathedral this morning. the national prayer service dates back to the first inauguration of george washington. the interfaith service included prayers and readings from christian denominations along with islam, judisim and the sikh r
in the house tomorrow that would allow us to raise the debt ceiling. republicans said they didn't want to do that without cutting back spending. the president didn't want the two linked and republicans apparently have relinquished that threat and pushed for the raising the debt ceiling temporarily into the spring to pay bills. they also say if either chamber doesn't come up with a permanent budget, that chamber, either the house or senate, the lawmakers won't get paid. we'll see how that vote goes later today. the president laid out a number of things including climate change, gay rights, health care immigration, and it remains to be seen how much of that they will be able to tackle in the second term. >> he better eat his wheaties. time to get done. thank you very much. >>> happening now, fire crews are battling to contain a fire at beale air force base about 50 miles north of sacramento. the fire has been burning for hours. this is what it looked like just last night. firefighters say they now have the fire about 75% contained. it broke out about 2:30 yesterday afternoon inside a building
-for-one cuts that come from the boehner rule for any long-term debt ceiling extension system of if we look at that, it means that in 10 to 15 years, with very little help from the democrats, we can achieve a balanced budget which is much better than even the 23- to 27 -- better than the 23 years to 27 years and obviously better than the never balancing budget obama and the democrats have proposed for the last four years. so you look at all the data out there. all the public opinion polls say that the american people think we're spending too much money. that the american people think that we are taxing too much. but the problem is that as republicans, i think this goes to what representative huelskamp just said, as republicans we have been seen as the party of big business. and we should never be the party of big business. we should be the party of individuals. the party that helps individuals have a fair share. we have a system that is unfair to small businesses, to individuals, we have a tax system that is unfair, we have a regulatory system that is unfair, and when republicans once again
ceiling fight. >> i think there's going to be a whole new field of battle when the debt ceiling rolls around. >> our opportunity here is on the debt ceiling. this is where we have leverage. >> remember that the gop vowing to hold the country hostage for cuts? they had the leverage, getting ready to fight. speaker boehner even tried his hand at extortion saying, "there's a price for everything." but, now, here comes the cave. today, republicans in the house voted to suspend the debt ceiling. what about the hostage-taking? not this time. and remember all the usual bluster in those press conferences of theirs? today, the gop leaders ducked the press. only a few print reporters, boehner's camera man and a lone fox news camera were there to capture their comments in their entirety. huh? so why the sudden change? >> the full faith and credit of the united states of america is not a bargaining chip. we are not a deadbeat nation. >> they will not collect our ransom in exchange for not crashing the american economy. what i will not do is to have that negotiation with the american people. we're
the debt ceiling increase. just as it would be to raise the debt ceiling without any meaningful cuts, just as senator phil graham got back in 1985 i believe it was, with graham-rudman -- graham rudman and so many of the debt increases that accompanied that was part of the deal with restrictions on spending. there are so many things going on in the world today that are just staggering. we know we have secretary of state, hillary clinton, testifying today. one report here today says that secretary clinton quickly interrupted one senator that contradict him and stress that she did not see request for additional security to protect the benghazi mission. extremely unfortunate. that people in our state department committed to helping to this country would make cries for help over a period of months, over a period of years, even going back to when ambassador rice was with the state department, and people were killed an american embassy request had been made for extra security that went unheeded. here it came again and apparently there were a number of people that made requests, including one of t
tomorrow, the boehner ruled but not applied dollar for dollar cuts for the debt ceiling the guided republicans in the last two years or decades and every system that flags for me. i think it's not republicans that are looking for relatives. i think his washington as a whole looking for relevance. we're running trillion dollars deficit is and would be the fifth straight year. the reality is s&p's downgraded. midis has sent the notice and we are still at the nsa's it's still 1995 where we are running dollars deficit. i hope it's not the case, but in the meantime all these games trying to figure out we frequent the, america's sunday aaa -- worthy of aaa rating. that's the serious reality. i hope that doesn't happen, but i don't know how but we can continue to go on. i don't think we have 10 years to somehow find a path to balance. we need to move my quick read. our mission to assessed the question, is very ten-year balanced-budget proposal in their and i don't know the answer. we don't have the numbers from the cbo, but our leadership has to have committed to that, different answers f
well, it's under cutting their own ideas. take for instance, raising the debt ceiling. something that everyone agrees need to be done. well, good news. by a vote of 285-144 today the house passed a bill raising the debt ceiling until may. but due to a provision that would withhold congressional pay if a budget isn't approved this year. 111 democrats voted against raiding the debt ceiling calling that provision a gimmick. however, it goes well beyond the house. today senator dick durbin revealed the democrats don't have the 51 votes necessary to reinstitute the talking filibuster even through the so-called nuclear option, even though everyone seems to want it. the last hope in filibuster reform is harry reid's great compromise of needing 41 votes to maintain a filibuster but i'm confident that the democrats will find some way to back down from that, too. joining me now the only one and only michael tomasky. starting with the debt ceiling. 111 democrats voted against raising the debt ceiling. was this all about the no budget no pay provision are the democrats trying to stick it to
, either right now, at the end of february or if we kick it forward to the end of april, the debt ceiling itself, they all become moments to talk about spending sequestration, is -- we need to stop spending, we need to reduce spending, but, it would be better if we could figure out how to do that in a targeted away or and across-the-board way and the worst way to have spending cuts, we can't decide how to cut anything and we'll cut everything a little bit and that is not the right thing to do and hopefully, we can find a better solution to sequestration, in the arm services committee and other places. >> chris: let's talk about another item on the agenda. you have an a-rating from the national rifle association and this week you accused the president of trying to -- wanting to try to take away our constitutional right when it comes to the right to bear arms and mr. obama says that he is protecting other rights. take a look: >> president barack obama: that most fundamental set of rights to life and liberty and the pursuit of happiness, fundamental rights that were denied to college student
would not apply any longer. dollar for dollar cuts in raising the debt ceiling and those are a couple of things that have guided republicans in the last two years or last decade and that raises some real flags for me. but i think it's not republicans that are looking for relevance, i think it's washington as a whole looking for relevance. we are running trillion dollar deficits and would be the fifth straight year. and the reality is s and p has downgraded us. moody's has sent a notice and we are still acting as if it is 1995 or 2000 where we aren't run ing trillion dollar deficits. but i hope it's not the case, but if in the meantime with all these games as we move around the messaging and try to figure out resequencing, if moody's comes through and follows in on their threat, that u.s.a. is not worthy of a.a.a. triple rating, that is the reality. i hope that doesn't happen. i don't know how long we can continue to go. i don't think we have 10 years to actually somehow find a path to ball answer. i think we need to -- to balance. i think we need to move more quickly. is there a 10-ye
of representatives faces a vote to increase america's debt ceiling. pending legislation raises the debt ceiling by roughly $300 billion to $400 billion. what protection does america get in return? are there any spending cuts? no. are there policies that spur economic growth in resulting revenue increases? no. does this proposal help fix in any way the trillion dollar deficits that threaten america with financial ruin? no. mr. speaker, i can only speak for me. i will not vote to raise the debt ceiling unless significant efforts are made to fix the underlying problem of deficits and accumulated debt that force debt ceiling votes and risk america's future. i will not vote to raise the debt ceiling unless first congress passes a substantive balanced budget constitutional amendment that solves the debt problem for future generations or, second, we implement sizable spanneding cuts that help get our financial affairs in order. i take this stance full well knowing the adverse economic effects of a failure to raise the debt ceiling, but also knowing, mr. speaker, that those affects pale in comparison t
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